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QUESTION
You decide that you need $68,000 in 10 years in order to make a down payment on a house. You plan to make semi-annual deposits to achieve your goal.
1. You decide that you need $68,000 in 10 years in order to make a down payment on a house. You plan to make semi-annual deposits to achieve your goal. If interest rate is 6%, how much should be deposited each time?
